Fri, Jun. 5, 9:06 AM
- Selling shareholders unloaded 25.75M shares in the offering versus an expected 24.6M. It priced at $25.75 per share. The underwriters have the option to buy up to 1.75M shares at that price.
- Markit intends to purchase from the underwriters 14M shares at the price paid to the selling shareholders of $24.91.
- MRKT +1.3% premarket to $26.52.
Dec. 19, 2014, 5:36 PM
Oct. 13, 2014, 3:47 PM
- The fundamental story for Markit (MRKT +2.9%) is still intact and the valuation at 18x earnings is "compelling," says Morgan Stanley, upgrading the stock - down 15% since its summer IPO - to Outperform with $29 price target.
- "Key positives: 1) Markit is a leading global provider of information and technology services to the financial sector. 2) It serves a large, fragmented market, providing critical services that are more efficient for customers to outsource. 3) It has a stable business model with high recurring revenue and >90% renewal rates. 4) The financial profile is attractive, with mid-single-digit rev growth and ~$250M in annual FCF. 5) MRKT has an experienced management team."
Jun. 19, 2014, 10:36 AM
- After earlier pricing 53.5M shares at $24 each, Markit (NASDAQ:MRKT) is changing hands at $26.44 in early action.
- Previously: Markit boosts size of IPO, prices at $24 per share
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